Debtors of Expired Credit Cards Take Note! Discover the Steps to Settle Overdue Payments on Your Expired Card
In the event that you find yourself with an expired credit card and outstanding bills, there are several options available to settle your dues. Here's a step-by-step guide to help you navigate this situation.
Firstly, you can transfer the available credit card balance to your linked bank account and pay the bills from there. If a direct debit mandate was set up before the invoice date, the amount will be withdrawn automatically. Otherwise, you must pay the due amount manually via SEPA bank transfer.
For recurring payments, businesses usually notify customers ahead of card expiration to update payment details or offer alternative payment methods to avoid disruptions.
If you prefer using third-party payment apps like Paytm, Google Pay, or PhonePe, you can use them to make credit card bill payments. To do so, you'll need to enter your card details and choose a preferred payment method.
Payments on expired credit cards can also be made via internet or mobile banking. Logging into net banking or mobile app, navigating to the "Credit Card" or "Bill Payment" section is necessary to make the payment.
If you wish to use NEFT/RTGS to pay dues on an expired credit card, you'll need to add the credit card as a beneficiary using the card number as the account number.
Another option is to write a cheque in favour of the credit card account number and drop it at the bank branch, or deposit cash directly. However, some banks may charge extra for this option.
To ensure you're paying the correct amount, check your statement or online account for pending balance, due date, and minimum amount due. The latest statement can be downloaded for detailed information.
If you're facing issues or confusion, contact your bank's customer care for guidance on the best way to pay your dues. The bank usually sends a replacement card with a new expiry date.
Remember, the expiration of a credit card does not erase any outstanding balances on the account. The account associated with the expired credit card remains active, with the outstanding dues and credit limit, unless explicitly requested to close it.
Stay informed and manage your finances effectively to avoid any inconvenience in the future.
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